'Deceptive Practices': US Levies New Sanctions On Iran; Obama Is - Spokane, North Idaho News & Weather KHQ.com

'Deceptive Practices': US Levies New Sanctions On Iran; Obama Issues Statement

MSNBC.COM - President Barack Obama ordered new U.S. sanctions on the government of Iran, including the Central Bank, on Monday.

In a statement accompanying his order, Obama said the sanctions were warranted because of the "deceptive practices" of the Central Bank and the "unacceptable risk" posed to the international financial system by Iran's activities.

The order came amid new tensions in the Middle East and around the world over the potential of a unilateral strike by Israel on Iran's nuclear program.

"Among other things, the (executive order) freezes all property of the Central Bank of Iran and all other Iranian financial institutions, as well as all property of the Government of Iran, further tightening the already broad-based and stringent U.S. sanctions on Iran," according to a statement from the White House.

Obama says it is still possible to resolve the standoff over Iran's nuclear program through diplomatic efforts. His administration has sought to use sanctions as one way to pressure Iran to halt its nuclear program.

The executive order "reemphasizes this Administration's message to the Government of Iran -- it will face ever-increasing economic and diplomatic pressure until it addresses the international community's well-founded and well-documented concerns regarding the nature of its nuclear program."

According to a letter accompanying the executive order, the additional measures were needed because of "deceptive" practices by Iran's central bank. click here to read the full story and to watch the video report

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